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The Management Employees Pension Plan (MEPP)
The Management Employees Pension Plan serves non-union, management-level employees of the Government of Alberta and its agencies. Established as a...
The Management Employees Pension Plan (MEPP)
The Management Employees Pension Plan serves non-union, management-level employees of the Government of Alberta and its agencies. Established as a multi-employer plan, MEPP provides defined-benefit pensions to a workforce that spans provincial ministries, boards, and commissions. CEO Tracy Besse leads the administrative organization, while Jon Hatfield, appointed Chief Investment Officer, directs the plan's assets under a board-governed Statement of Investment Policies and Procedures. MEPP builds its return stream from a diversified institutional portfolio. The plan invests across public equities and fixed income for core beta, then layers in private market allocations including direct real estate, infrastructure, private equity, and private credit. Infrastructure commitments have historically targeted mid-market Canadian assets. Real estate exposure spans office, industrial, residential, and retail, often accessed through external investment managers. The plan's private equity and credit buckets are managed with an emphasis on partnerships with established institutional fund managers. While MEPP does not publicly disclose total assets, independent estimates place the fund in the $5 billion to $7 billion range, putting it among the larger non-federal public pension plans in Canada. The investment team operates from Edmonton, with no significant external offices. The plan's administrative operations and investment program remain governed by a Board of Trustees drawn from employer and plan member representatives, a governance model aligned with the province's Joint Governance of Public Sector Pension Plans Act. Unlike Canada's giant independent pension investment boards—AIMCo, CPP Investments, OTPP—MEPP does not operate as an autonomous investment corporation. Its assets are managed under direct board oversight with an internal investment team, a structure that prioritizes governance alignment with plan stakeholders over pursuit of global mandates. The plan's closest institutional peers are other Alberta public-sector plans such as LAPP and PSPP, though MEPP's exclusive focus on management-tier employees gives it a distinct, somewhat more concentrated beneficiary base.
General information
Firm type
Pension Fund
Location
Region
North America
Country
Canada
City
Edmonton
Corporate office
Edmonton, AB, Canada
Principals
Tracy Besse
Chief Executive Officer
Jon Hatfield
Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at MEPP?
Jon Hatfield serves as Chief Investment Officer, appointed in 2022. He leads the internal investment team and reports to a Board of Trustees representing employer and plan member interests. The board approves the Statement of Investment Policies and Procedures that governs all asset allocation decisions.
How is MEPP structured relative to Alberta's other major public pension plans?
MEPP is governed under Alberta's Joint Governance of Public Sector Pension Plans Act, with a Board of Trustees evenly split between employer and employee appointees. Unlike AIMCo, which acts as an independent provincial investment manager, MEPP retains direct fiduciary control over its assets and does not serve other plan sponsors. Its peer set includes the Local Authorities Pension Plan (LAPP) and the Public Service Pension Plan (PSPP).
What is MEPP's posture on alternative investments?
MEPP allocates meaningfully to private markets, including real estate, infrastructure, private equity, and private credit. The plan accesses these primarily through external institutional fund managers rather than direct co-investments. Infrastructure commitments have targeted mid-market Canadian assets, while real estate spans office, industrial, residential, and retail properties.
Which employees are covered by MEPP?
MEPP covers management-level, non-union employees of the Government of Alberta, including those working for provincial ministries, agencies, boards, and commissions. It is a multi-employer defined-benefit plan, distinct from plans covering unionized provincial workers.
Does MEPP publicly disclose its total assets under management?
MEPP does not publish a current AUM figure through its public website. Independent estimates place the plan's asset base between $5 billion and $7 billion. Pension fund disclosures in Canada typically flow through annual reports, which are made available to plan members.
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